FY26 ITR-1 and ITR-2 Forms Expected: What Taxpayers Need to Know
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New ITR-1, 2 Forms for FY26 Expected Soon: What Taxpayers Can Anticipate
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Moneycontrol•10-02-2026, 10:28
New ITR-1, 2 Forms for FY26 Expected Soon: What Taxpayers Can Anticipate
•New ITR-1 (Sahaj) and ITR-2 forms for FY26 (AY 2026-27) are expected to be notified soon, aiming for improved ease of compliance.
•Experts suggest a 'radio button' option in ITR-1 and ITR-2 to skip irrelevant sections, reducing extensive disclosures for simple cases.
•Anticipated changes include pre-filling of interest and dividend income, automatic reconciliation with AIS/TIS, and a 'split income' option for joint accounts.
•Expectations for ITR-2 include a simplified foreign asset reporting for small values and a consolidated 'Home Loan Schedule' for easier disclosures.
•Taxpayers hope for clearer error messages, a stable ITR utility, and reduced compliance stress from technical flaws.
